McGurk said revitalizing Rosemary Street, which runs parallel to Franklin Street, will strengthen the businesses and infrastructure already in Chapel Hill.

“It’s not just about change and new, but also about looking to strengthen what we have,” she said. “I think Rosemary Street is on the cusp of having its own identity, separate from Franklin Street.”

The revitalization plan, which was first discussed in the town’s Chapel Hill 2020 comprehensive planning initiative, hopes to attract and capture more local start-ups in downtown Chapel Hill, as well as provide additional opportunities for high-level jobs.

According to Chapel Hill 2020 documents, the initiative might also revitalize and redevelop Rosemary Street buildings — making it more attractive for potential businesses.

“We have certainly lost entrepreneurs to other communities over the past decades,” said Dwight Bassett, economic development officer for the town.